EV Tires Market 2022 Applications, SWOT Analysis, Remarkable Growth And Competitive Landscape By 2028

Market Overview:
The EV Tire Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering base year as 2021.

The tires on electric cars might look similar to those on cars that run on fossil fuels. However, they differ in terms of the parts used in manufacturing. Electric vehicle tires are 20% lighter than tires for vehicles powered by fossil fuels. This is so that fewer rubber and other raw materials are used in electric automobiles. Tires for electric vehicles typically have a 30% reduction in rolling resistance. Thus, compared to conventional tires, electric vehicle tires have a longer useful life.

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Market Dynamics:
Driver:
Many factors necessitate the use of special tires for electric vehicles. According to the company, compared to internal combustion vehicles, their tires must manage greater weight and provide more torque to the road when accelerating from a stop. Due to the near-silent powertrains of electric automobiles, tires noise is far more audible than in internal combustion vehicles, where it is partially covered by engine noise. Future electric car tires and mileage requirements are of utmost significance. The range of an EV can be significantly impacted by wheels and tires in particular. In numerous tests, it has been demonstrated that swapping out the low-rolling-resistance factory tires and aerodynamic wheels for aftermarket ones reduces range while enhancing handling.

Opportunities:
The newest tires benefit from using silica and carbon black together since it reduces resistance while also allowing for better tires wear and tear during use. The market for electric vehicle tires will be helped by the rise in the use of electric vehicles brought on by the increase in the cost of combustible fuel. The side wall construction and improved thread pattern made possible by modern technology have proven to be opportunities for the growing market. The wet grip concept's ability to shorten stopping distance has also increased the popularity of electric vehicle tires.

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Market Segmentation
By product type, the radial tires segment is expected to hold the maximum market share during the forecast period. Magna radial tires include a sequence of steel cords stretching from the beads and across the tread, which are arranged at about right angles to the tread's centerline and parallel to each other, as well as belts directly beneath the tread.

By propulsion, the BEV segment is expected to capture the maximum EV tire market share over the forecast period. BEVs are electric-only vehicles that do not have an internal combustion engine, a gasoline tank, or an exhaust pipe. It contains one or more electric motors instead, which are driven by a bigger onboard battery. An external outlet is used to charge the battery.

By Distribution Channel, the OEM segment is expected to dominate the EV tire market during the forecast period. This is due to a considerable increase in electric car sales, the launch of electric buses, and OEM's growing global footprint. Globally, almost 2.1 million electric automobiles were sold in 2019, up from 1.8 million in 2018.

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By Type
• Radial Tires
• Bias Tires
• Composite Tires

By Propulsion
• BEV
• HEV
• PHEV

By Distribution Channels
• OEM
• Aftermarket

Regional Analysis for the EV Tires Market:
Countries like China, Japan, and South Korea lead the Asia Pacific EV tire market. The EV sector in the area is dominated by China, which is the world's largest EV manufacturer and customer. Their government has taken steps such as providing subsidies to EV buyers, enacting mandatory laws requiring all vehicle manufacturers to produce EVs in proportion to the number of vehicles produced, providing substantial support for the installation of EV charging stations across major cities, and enacting regulations against polluting vehicles, all of which have contributed to the growth of the EV tire market.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in EV Tires market are :
• The Goodyear Tire & Rubber Company
• Continental AG
• Bridgestone Corporation
• Pirelli & C. S.p.A
• Yokohama Rubber Company Ltd.
• Hankook Tire & Technology Group
• Michelin Group
• Kumho Tire Company Inc.
• Toyo Tire Corporation
• GITI Tire and other major players.

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Key Industry Developments in the EV Tires Market:
• In December 2021, the new Electric Drive GT has been released by Goodyear Tire & Rubber Company. The Goodyear Electric Drive GT is an ultra-high performance, all-season tire that provides EV drivers and passengers with long-lasting tread wear and a peaceful ride. It is Goodyear's first replacement tire tailored for electric vehicles (EVs) in North America.
• In February 2021, Michelin created and enhanced tire technology to increase vehicle propulsion noise reduction. Due to custom-developed polyurethane foam that keeps the annoyances out of the cockpit, it reduces road noise even more with a 20% quieter composition. There are no carbon emissions from this tire technology. Michelin's e Primacy and Pilot Sport EV tires, designed for high-performance and sports electric vehicles, are designed to solve these unique challenges.

Table of content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Propulsion
 3.3 By Distribution Channels
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: EV Tires Market by Type
 5.1 EV Tires Market Overview Snapshot and Growth Engine
 5.2 EV Tires Market Overview
 5.3 Radial Tires
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Radial Tires: Grographic Segmentation
 5.4 Bias Tires
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Bias Tires: Grographic Segmentation
 5.5 Composite Tires
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Composite Tires: Grographic Segmentation
Continue……..

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